Barclays on North American Airfreight and Ground: Modest Trucking Demand

Analyst, Brandon R. Oglenski, met with several trucking companies and the overall message he got was 'Things are good, but not great'. There was probably more enthusiasm at the beginning of the year, however, pricing remains favorable for TL carriers. Oglenski sees favorable earnings dynamics for more TL, with Werner (Nasdaq: WERN) being a top pick.

Barclays maintains and Equalweight rating on Swift Transportation (Nasdaq: SWFT) and $14 price target, but lowers FY12 EPS estimate from $1.04 to $1.00 and FY13 from $1.25 to $1.15.